My Share Trading - Australian Share Trading Blog & News

Raid over Consolidated Media Continues for the Second Day

Jim Thesiger — Thu, 09 Jul 2009 12:44:22 -0700

Seven Network (SEV) is expected to announce itself as the second largest stockholder of Consolidated Media Holding (CMJ) controlled by James Packer which came under an unexpected raid from Seven Network on Wednesday.

Consolidated Media Stunned by Unexpected Share Raid

Jim Thesiger — Wed, 08 Jul 2009 12:54:11 -0700

James Packer’s Consolidated Media (CMJ) came under a stunning attack by a $150 million hostile share raid. Seven Network (SEV), a rival of Consolidated Media which is controlled by Kerry Strokes is assumed to be the buyer of the stocks which will allow Seven Network to prevent a takeover of the company.

Fair Pay Commission rules out a wage rise

Jim Thesiger — Tue, 07 Jul 2009 12:59:09 -0700

The Australian Fair Pay Commission have decided not to change the present minimum wage for 1.3 million low paid Australian workers keeping the minimum wage at $543.78 a week or $14.31 per hour. The commission defended its decision saying that the wage freeze will ensure job security and will play a key role in the employment recovery when the economy will start to recover.

Rio Tinto to Sell off its Alcan Packaging Assets

Jim Thesiger — Mon, 06 Jul 2009 12:30:36 -0700

Yesterday Rio Tinto (RIO) has made an announcement that it is about to sell off the Food Americas division of the Alcan Packaging business to Bemis for 1.2 billion US dollars among which 200 million will be paid in the form of Bemis stocks. The Food Americas division of Alcan has generated around 1.5 billion US dollars in 2008 with an earning of 166 million US dollars before Tax, depreciation, amortization and interest.

Australia's 5th Richest: Professor Clive Palmer Profile

Jim Thesiger — Sun, 05 Jul 2009 11:58:38 -0700

In the corporate world of Australia, Professor Clive Palmer is known to be one of the most influential figures. He is also considered as the fifth richest person in Australia with a huge fortune that is assumed to be around $6.5 billion. Professor Palmer owns lavish homes in Perth, Brisbane and Beijing. He also owns three private jets and two helicopters. Very recently he bought a football team - Gold Coast United for A$6 million and eyeing to take the team to an established position in A-League.

Macquarie Office Trust (MOF): Losers of the Week

Jim Thesiger — Sat, 04 Jul 2009 10:29:30 -0700

Macquarie Office Trust (MOF), a major office properties owner of Australia which is engaged in property investment in Australia, USA and Europe was the worst performer in the Australian Stock Exchange ASX100 index with a loss of 17.3 percent or 4 cents in its stock price and was closed for the week at 19 cents.

David Jones (DJS): Winner of the week

Jim Thesiger — Sat, 04 Jul 2009 10:23:08 -0700

David Jones (DJS), a company that operates departmental stores in Australia and provides diversified range of both local and international brands was the best performer in Australian Stock Exchange ASX100 adding 7.1 percent or 30 cents in its stock price closing the week at $4.48.

Clive Palmer to Buy BHP's Nickel Mines

Jim Thesiger — Fri, 03 Jul 2009 10:57:06 -0700

Professor Clive Palmer, one of the richest men in Australia has recently declared that he is considering purchasing the nickel assets owned by BHP Billiton (BHP) to strengthen up an expansion program of Yabulu nickel refinery which is located in Queensland. Companies that are owned by Clive Palmer bought the refinery today in an undisclosed price which Professor Palmer claimed to be less than $2 billion.

Commission Accuses Cabcharge for Misusing Market Power to Eliminate Competitors

Jim Thesiger — Thu, 02 Jul 2009 20:00:01 -0700

A lawsuit was filed by the Australian Competition and Consumer Commission (ACCC) yesterday against Cabcharge Australia (CAB), a company that is operated by the Sydney Taxi operator Reg Kermode. In the lawsuit ACCC has accused Cabcharge for misusing its market power in an attempt to eliminate its competitors from the market.

Transfield Services (TSE): Loser of the Week 26

Jim Thesiger — Wed, 01 Jul 2009 09:29:28 -0700

Transfield Services (TSE), a company that provides services in sectors like maintenance, operations, assets and project management was the worst performer in the ASX100 index losing 13.4 percent or 36 cents in its stock price and was closed for the week at $2.31.